Vijay Solvex Ltd

About [ edit ]

Vijay Solvex is a leading manufacturer/producer of Edible Oil and vanaspati ghee. The company is also diversified into ceramics products and wind power.(Source : 201903 Annual Report Page No:90)

  • Market Cap 676 Cr.
  • Current Price 2,110
  • High / Low 2,110 / 201
  • Stock P/E 14.9
  • Book Value 575
  • Dividend Yield 0.00 %
  • ROCE 15.5 %
  • ROE 14.1 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 33.34% CAGR over last 5 years

Cons

  • Stock is trading at 3.67 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.08% for last 3 years.

Peer comparison

Sector: Edible Oil Industry: Solvent Extraction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
274 296 324 332 354 338 405 350 455 465 593
266 290 321 323 346 333 396 337 445 453 574
Operating Profit 7 6 3 9 7 5 9 14 10 12 19
OPM % 3% 2% 1% 3% 2% 2% 2% 4% 2% 3% 3%
Other Income 0 1 0 0 0 1 1 0 2 1 2
Interest 4 4 -1 -0 2 1 1 4 -3 -3 -2
Depreciation 0 0 0 1 0 0 0 1 1 0 1
Profit before tax 3 3 4 9 5 6 9 9 14 14 23
Tax % 35% 26% 40% 33% 35% 13% 25% 27% 25% 24% 24%
Net Profit 2 2 2 6 3 5 6 6 11 11 17
EPS in Rs 6.62 6.84 7.18 19.14 9.40 15.18 20.01 19.95 33.41 34.10 53.77

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
768 662 685 879 1,226 1,448 1,864
755 648 669 859 1,200 1,412 1,809
Operating Profit 13 14 16 20 26 36 54
OPM % 2% 2% 2% 2% 2% 2% 3%
Other Income -0 0 1 0 2 2 4
Interest 6 5 2 3 7 8 -4
Depreciation 2 1 1 2 2 2 2
Profit before tax 6 8 14 16 19 27 60
Tax % 20% 30% 34% 36% 34% 25%
Net Profit 5 5 9 10 13 21 45
EPS in Rs 14.49 16.89 28.20 32.07 39.78 64.54 141.23
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:14%
3 Years:28%
TTM:30%
Compounded Profit Growth
10 Years:%
5 Years:33%
3 Years:31%
TTM:122%
Stock Price CAGR
10 Years:42%
5 Years:86%
3 Years:76%
1 Year:543%
Return on Equity
10 Years:%
5 Years:10%
3 Years:11%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
3 3 3 3 3 3 3
Reserves 76 81 103 123 131 154 181
Borrowings 60 64 61 97 80 85 133
24 23 22 23 28 42 49
Total Liabilities 163 172 190 246 243 284 366
15 15 16 16 18 20 21
CWIP 10 10 10 10 10 11 10
Investments 17 17 51 60 57 61 68
121 130 114 160 158 192 266
Total Assets 163 172 190 246 243 284 366

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
44 4 23 -38 53 47
1 -0 -18 0 -14 -6
-46 -2 -5 32 -25 -7
Net Cash Flow -1 1 -0 -5 14 35

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 10% 10% 12% 15%
Debtor Days 14 14 15 21 14 9
Inventory Turnover 12.59 11.12 13.50 18.73 32.23

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95 67.95
32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.05 32.05

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